News Corp Moves Back Toward 52-Week High

There has been enough good news about News Corp in the last two days that the stock appears headed back to the level where it traded before the phone hacking scandal caused it to sell-off.

The two Murdochs dodged any problems their testimonies before a Parliament commission might has caused. Cowen & Co upgraded the company’s stock to “outperform,” to some extent on the belief that the senior Murdoch may leave.

Well-known Saudi billionaire and investor Prince Alwaleed bin Talal said he supported the Murdochs in their current roles. There has been concern that he might sell his shares.